Poor start to the year for median share manager
The median Australian share manager fell 5.5 per cent for the month and fell 3.9 per cent over the year to 31 January 2016, according to Morningstar.
Morningstar's institutional sector survey found this was ahead of the S&P/ASX 300 index's -5.8 per cent. The longer-term annualised returns from the median manager were 7.3 per cent over three years, 7.0 per cent over five years, and 6.1 per cent over the 10 years to 31 January 2016.
The best performing Australian share strategies over the year were Bennelong Concentrated (24.1 per cent), Macquarie High Conviction (17.4 per cent), and Wilson HTM (14.8 per cent).
Australian listed property was the best performing growth asset class (7.3 per cent), followed by global equities (4.9 per cent), global listed property (-3.4 per cent), and Australian shares (-5.8 per cent).
In the Australian sharemarket utilities and telecommunication services were the standout sectors for the period both at 0.7 per cent, followed by consumer staples at -0.2 per cent.
Recommended for you
Several wealth management companies have been shortlisted in the second annual Australian AI Awards program, which champions individuals and organisations pioneering Australian AI innovation.
Women are expected to inherit US$124 trillion through the intergenerational wealth transfer, but Capital Group has found they are twice as likely to rely on social media for advice over a financial adviser.
Challenger Investment Management has raised $350 million during the offer period for its new ASX-listed investment structure.
A week after Lonsec downgraded multiple funds from Metrics Credit Partners, rival research house Zenith Investment Partners has opted to retain its ratings for the same funds.
